January 31, 2013
UCSF Seeking Developers For Their Prime 10-Acre San Francisco Site
UCSF's Chancellor's Executive Cabinet has approved the issuance of a Request for Proposals (RFP) to redevelop UCSF's 10-acre Laurel Heights campus at 3333 California Street, seeking to realize "the highest and best use of the site [and] maximize the value of the property." UCSF will be exploring options for relocating its 1,200 Laurel Heights employees to other campuses in San Francisco over the next couple of years.
The Laurel Heights campus which was first developed by the Fireman’s Fund Insurance Company in 1955 and acquired by UCSF in 1985 encompasses an oversized city block, with fronts on California, Presidio, Masonic, Euclid, and Laurel Streets.
The campus site with a current 40-foot height limit is located in an RM-1 residential zone which permits approximately one dwelling unit per 800 square feet of land or one dwelling unit per 600 square feet of land if approved as a Planned Unit Development. There are 43,560 square feet per acre. The property could also be used for offices, which is the existing legal non-conforming use.
Proposals are tentatively scheduled to be due in May with a developer and plan set to be selected in June. The selected developer "will be capable of achieving entitlement approvals from the City as early as possible" with an expected time horizon of 4 to 10 years to complete the development.
January 30, 2013
Is NoPa Being Wrongly Targeted With Reduced Parking/Traffic Lanes?
Last night "Citizen NoPa" papered parked cars on the streets of NoPa in an attempt to rally new opposition to the proposed redesign of Masonic Avenue and loss of 167 on-street parking spaces, a redesign which was approved by the SFMTA last year and shouldn’t be catching any plugged-in people by surprise.
The flyer leads a NoPa resident who’s now starting to feel that her neighborhood is unfairly being targeted to wonder, "Is it right to reduce traffic lanes and parking and then also approve a new Target store in the same area?"
The construction work on said City Center CityTarget at the corner of Masonic and Geary has commenced and is currently slated for an October 2013 opening.
∙ New Design For Masonic Avenue To Be Approved This Afternoon [SocketSite]
∙ City Center CityTarget Officially Slated For October 2013 Opening [SocketSite]
Apple Rumor Busted But In Part Confirmed As Well
Perhaps it’s a case of plans having since changed, Colliers playing coy, or simply wishful thinking that’s not to be, but the rumor of Apple filling the vacated Diesel space seems to have been busted by the Biscuit. That being said, Colliers’ comment that "Apple was not interested in the space, as it was too small," would seem to confirm that Apple has indeed set its sights on the Castro, just not the 400 Castro Street Site.
∙ Apple Has Reportedly Set Their Sights On This Castro Street Site [SocketSite]
∙ UPATED: Diesel Closes. Apple Store Coming? [castrobiscuit.com]
What’s The Right Way To Rat Out A Neighbor And Report Illegal Work?
In our inbox this morning:
I have very good sources that tell me my neighbor, a landlord, is in the initial stages of trying to build an illegal apartment in the SFH next door. It will be camouflaged by a permitted "renovation" to this SFH.
The last thing we want is non-permitted gas lines, shoddy electrical work, etc, in a unit attached to ours.
It is zoned for two-family, but he has not gone through the permitting process to create a second unit. What's the best way readers suggest I go about addressing this? Call the owner directly, warn the city. We want to nip it in the bud, as I believe the city won't bother to make him reverse the work once complete.
New Condos At 400 Grove Street Up For Approval And Not Unopposed
On the agenda for San Francisco’s Planning Commission this week, the approval of 34 new condos and a cafe to be built at 400 Grove Street at the corner of Gough, also known as Central Freeway Parcel H, currently a Hayes Valley parking lot.
The full scoop, design and opposition, click any of the renderings to enlarge:
The proposal is to construct a new development reaching a maximum height of four to five stories containing up to 34 dwelling units, approximately 2,025 square feet of ground floor commercial use, and 17 off-street residential parking spaces with access from Grove Street. The project will be "C"-shaped and will wrap around a common courtyard area.
The ground-floor retail space will be a corner space and will have frontage on both Gough and Grove Streets. The remainder of the Grove Street frontage will contain a common residential lobby area, the vehicular entry/exit and a walk-up residential unit. The Gough Street frontage will primarily feature ground-floor retail, but will also include a raised entry into the central common courtyard area and a raised residential unit.
The building will step-down in height from east to west to match the prescribed height and bulk districts with the five-story massing located on the easterly portion of the lot and the four-story massing located on the westerly portion of the lot.
Designed by Fougeron Architecture, opposing the project are neighbors at 525 Gough who fear the loss of light and air to their rear balcony, neighbors at 419 Fulton Street that believe "the Project is too tall, the proposed residential density is too high and have also suggested that a community garden or park might be preferable," and a neighbor at 459 Fulton Street that worries that the availability of on-street parking in the neighborhood will be affected by the proposed 0.5:1 parking ratio.
San Francisco's Planning Department recomends the building's approval.
∙ The Prices For Hayes Valley Parcels H And J [SocketSite]
January 29, 2013
72 Townsend Development Dusted Off And Set To Start Construction
In 2009 the proposed developer of 74 approved units at 64/72 Townsend filed for bankruptcy. And in 2011, the existing office space at 72 Townsend was leased to Federated Media which was expected to delay any development by at least 5 years.
The building permits to add seven stories and seventy-four units atop the existing 31-foot building were quietly reinstated at the end of last year. And if a plugged-in reader is correct, construction should commence in March and be completed by the end of 2014.
∙ 72 Townsend: So Close, But Yet So Far For 74 Approved Units [SocketSite]
∙ 178 Townsend Moves Forward While 72 Townsend Leases Instead [SocketSite]
San Francisco Home And Condo Prices Gain As US Index Slips
According to the November 2012 S&P/Case-Shiller Home Price Index, single-family home prices in the San Francisco MSA rose 1.4% from October 2012 to November 2012 and are up 12.7% year-over-year but remain 33.0% below a May 2006 peak.
For the broader 10-City composite (CSXR), home values fell 0.3% from October to November but are up 4.2% year-over-year, down 30.1% from a June 2006 peak.
In the 12 months ended in November, prices rose in 19 of the 20 cities and fell in New York. In 19 cities prices rose faster in the 12 months to November than in the 12 months to October; Cleveland prices rose at the same pace in both time periods. Phoenix led with the fastest price rise – up 22.8% in 12 months as it posted its seventh consecutive month of double-digit annual returns.
Winter is usually a weak period for housing which explains why we now see about half the cities with falling month-to-month prices compared to 20 out of 20 seeing rising prices last summer. The better annual price changes also point to seasonal weakness rather than a reversal in the housing market. Further evidence that the weakness is seasonal is seen in the seasonally adjusted figures: only New York saw prices fall on a seasonally adjusted basis while Cleveland was flat.
Regional patterns are shifting as well. The Southwest – Las Vegas and Phoenix – are staging a strong comeback with the Southeast -- Miami and Tampa close behind. The sunbelt, which bore the brunt of the housing collapse, is back in a leadership position. California is also doing well while the northeast and industrial Midwest is lagging somewhat.
On a month-over-month basis, prices rose across all three San Francisco price tiers.
The bottom third (under $379,796 at the time of acquisition) rose 2.5% from October to November (up 17.7% YOY); the middle third rose 1.1% from October to November (up 13.7% YOY); and the top third (over $685,147 at the time of acquisition) ticked up 0.4% from October to November, up 7.7% year-over-year (versus 6.2% in October).
According to the Index, single-family home values for the bottom third of the market in the San Francisco MSA are back to December 2000 levels, down 53% from an August 2006 peak; the middle third is back to March 2003 levels, down 34% from a May 2006 peak; and the top third remains at May 2004 levels, 20% below an August 2007 peak.
Condo values in the San Francisco MSA ticked up 0.8% from October to November and are up 18.7% year-over-year but remain 23.7% below a December 2005 peak.
Our standard SocketSite S&P/Case-Shiller footnote: The S&P/Case-Shiller home price indices include San Francisco, San Mateo, Marin, Contra Costa, and Alameda in the "San Francisco" index (i.e., greater MSA) and are imperfect in factoring out changes in property values due to improvements versus appreciation (although they try their best).
∙ Home Prices Extend Gains According to the S&P/Case-Shiller Index [Standard & Poor's]
∙ While The US Index Slips, San Francisco Home Prices Gain [SocketSite]
January 28, 2013
Apple Has Reportedly Set Their Sights On This Castro Street Site
The word on the street is a 50% jump in rent was to blame for effectively chasing Diesel from their 400 Castro Street location at the corner of Market. And if a plugged-in tipster is correct, Apple has their sights set on the space with plans to develop the old Bank of America building into an iconic Apple Store which would be the fourth in San Francisco.
As Apple hasn’t commented, we'll have to consider it a rumor for now.
UPDATE (1/30): Apple Rumor Busted But In Part Confirmed As Well.
ACT(ing) Out: 970 Market Street Site Hits The Market Sans An Arts Use
Over the past two years, the Tenderloin Economic Development Project (TEDP) has been advocating to secure the three Mid-Market parcels between 966 and 974 Market Street for the development of an "arts & education facility with retail, restaurant and residential uses" with the American Conservatory Theater (A.C.T.) as a partner.
Having been in negotiations with the Loan Star Fund, the Dallas based hedge fund which acquired the parcels out of distress a few years ago, and having seemingly secured a soft agreement to incorporate TEDP’s arts and education vision into any development, Lone Star suddenly went silent at the end of last year and quietly listed the parcels for sale as "970 Market Street" with bids due by February 15, 2013.
While not yet entitled for development, the offering memorandum for the 25,557 square foot site with over 100 feet of Market Street retail frontage notes "the potential for over 250 residential units or over 250,000 gross square feet of office and retail space."
From the Tenderloin Economic Development Project’s Executive Director, Elvin Padilla:
In response to TEDP’s confronting the hedge fund over bad faith negotiation practices the mayor [has] decided to host a breakfast with developers that may be interested in the site to impress upon them the importance of and the city’s support for arts & culture.
The breakfast meeting is scheduled for this Wednesday.
A Clash Over Condo Conversions At City Hall
At 1 PM today, San Francisco’s Land Use Committee which is chaired by Supervisor Wiener is scheduled to vote on whether or not to allow proposed Condo Conversion Lottery Bypass legislation to move forward to San Francisco’s Board of Supervisors for adoption.
The proposed legislation which was introduced by Supervisors Wiener and Farrell last June would allow eligible TIC owners to condo convert for a one-time fee of $20,000 per unit.
As we first reported last year, while the proposed fee amount is $20,000 per unit, said fee would be reduced for each year a unit has participated in the condominium conversion lottery, a reduction of 20 percent per year starting in year two, up to an 80 percent reduction for units that have participated for 5 years or more.
With roughly 2,500 units already seeking conversion, and a current cap of 200 conversions per year, the expected wait time to condo convert without the bypass is well over a decade, approaching two decades for new entrants.
While the terms of the proposed legislation would provide lifetime leases for existing tenants of converting units, the San Francisco Tenants Union opposes the lottery as an assault on Rent Control as condominiums are exempt from the controls.
Both opponents and proponents of the legislation are trying to rally their supporters to the steps of City Hall this afternoon. As always, we’ll keep you posted and plugged-in.
∙ The Devilish Details For Bypassing SF's Condo Conversion Lottery [SocketSite]
∙ $20K To Condo Convert From TIC As Proposed [SocketSite]
∙ Condominium Conversion 2012 Lottery Deadline And Odds (Against) [SocketSite]
Giants Moving Forward With Massive "Mission Rock" Development
As we first reported last April with respect the San Francisco Giants’ plans to develop San Francisco’s Seawall 337, also known as the Giants Parking Lot A:
The four year old plans to develop San Francisco’s Seawall Lot 337/Pier 48 dubbed "Mission Rock" have officially been dusted off with the Giants and their surviving development partner, the Cordish Cos., touting a plan to break ground for the massive project, currently the site of the San Francisco Giants Parking Lot A, by 2015.
The 27-acre development would yield up to 1,000 housing units, 125,000 square feet of retail (down from 240,000), 1.7 million square feet of office space (up from a million), a garage with 2,690 parking spaces, and over eight acres of public open space.
With financial partner Cordish Cos. having since pulled out of the project, the Giants are now going it alone and are slated to seek Port Commission approval of the financial terms for the development next month, after which the terms will need to be endorsed by San Francisco’s Board of Supervisors.
Once the Term Sheet is endorsed, the Giants can commence the formal Planning process (entitlements, environmental impacts, design approval, etc.) with the team hopeful that they will still be able to break ground by 2015, finishing the development by 2022.
∙ Mission Rock Plans Dusted Off With Giants Swinging For A 2015 Start [SocketSite]
∙ SocketSite Weekend Special: One Proposal For San Francisco SWL 337 [SocketSite]
∙ Proposed Seawall Lot 337 Development Scrambling For Investors [SocketSite]
∙ Could This Be Curtains For Cirque Du Soleil In The City? [SocketSite]
January 25, 2013
The Plan To Make Muni More Convenient, Reliable, And Attractive
In an effort to make Muni "more convenient, reliable and attractive" by reducing transit travel times and improving customer experiences, service reliability, and efficiency, San Francisco’s Municipal Transportation Agency (SFMTA) launched San Francisco’s Transit Effectiveness Project (TEP), the first holistic review of San Francisco's Muni network and service delivery since the 1970’s.
Implementation of the TEP is slated to occur between 2014 and 2019, subject to funding and resource availability, spanning four target areas: service policy framework, service improvements, service-related capital projects, and travel time reduction proposals:
The proposed Service Policy Framework is a policy document consisting of objectives and actions to enable the SFMTA to effectively allocate transit resources, efficiently deliver service, improve service reliability, reduce transit travel time, and improve customer service. The Service Policy Framework also organizes Muni services into four distinct service types: Rapid Network, Local Network, Community Connectors, and Specialized Services.
The proposed Service Improvements include: creating new routes, redesigning existing routes, or adding service to new streets; eliminating unproductive existing routes or route segments; changing vehicle type; changing frequency and span of service; changing the mix of local/limited/express service; and other changes, such as new express service stops, expansion of Limited-stop service to include Sundays, and the expansion of other service with the addition of days of operation.
The proposed service-related capital projects include three categories of projects proposed as infrastructure to support service improvements: overhead wire expansion, transfer and terminal point improvements, and systemwide capital infrastructure.
The proposed travel time reduction proposals (TTRP) would implement roadway and bus stop changes to reduce delays on the transit routes in the Rapid Network. Changes include adding transit bulbs/boarding islands; replacing stop signs with traffic signals or other measures; transit stop changes including moving stops, eliminating stops and adding new stops; traffic engineering changes such as adding turn lanes, turn restrictions and transit-only lanes; and pedestrian improvements such as curb extensions and other crosswalk treatments.
The initial TEP study, findings and framework for improvements was just released, including maps for the proposed service improvements to each line, existing and new.
A draft report of the project's potential environmental impacts is scheduled to be circulated for public comment this summer. A final report is anticipated in the Winter/Spring of 2014, after which TEP implementation could begin.
Before And After (And Two New Parking Spaces) In Presidio Heights
Listed as a six-bedroom home with "Fantastic Development Potential!" for $2,850,000 in October of 2010, the then 4,490 square foot Presidio Heights property at 130 Locust Street sold for $3,300,000 that December.
Rebuilt over the past two years with David Armour as architect and Heather Hillard on interior design, 130 Locust Street has just returned to the market as a four-bedroom home with 4,900 finished square feet and listed for $7,775,000.
In addition to a new two-car garage, there's also a new au pair suite on the garden level.
And of course, the kitchen before and after:
∙ Listing: 130 Locust Street (4+1/5.5) 4,900sqft - $7,775,000 [130locuststreet.com]
January 24, 2013
Add 291 Units To Potrero Hill's Housing Pipeline
Related California, the Irvine based developer of The Paramount in San Francisco, has quietly filed a proposal to demolish the three one-story industrial buildings at 1601 Mariposa Street with plans to construct two buildings with 291 dwelling units over 5,300 square feet of commercial space and parking for 235 cars on the site across from Jackson Playground (and Anchor Brewing Company) at the base of Potrero Hill.
While we haven’t yet seen the design, the site is zoned for 40 feet and the development includes a mid-block pedestrian mews, connecting 18th and Mariposa Streets. And with 291 proposed units, which were not counted in Planning's last report, the housing pipeline for the Potrero Hill/Showplace Square area is now over 3,000 units.
Concourse Hall Redevelopment Could Finally Kickoff In 2013
Plans for over 800 new housing units to be built at 801 Brannan (the current site of the Concourse Exhibition Hall) and One Henry Adams are up for approval by San Francisco's Planning Commission this afternoon.
The proposed development of 801 Brannan and One Henry Adams (click rendering to enlarge) has been in the works for over ten years, at one point hoping to be delivered in 2008 (and then 2010). The development would raze four buildings across two sites.
Rising on the sites would be five six-story/sixty-eight-foot buildings with up to 819 residential units over ground floor retail and 798 parking spaces. In terms of unit mix: 455 one-bedrooms, 315 two-bedrooms, 20 three-bedrooms, and 29 lofts as proposed.
A revised plan now calls for four buildings with up to 821 units (107 studios, 319 one-bedrooms, 316 two-bedrooms, 69 three-bedrooms, and 10 lofts), up to 150 of which would be affordable. And in terms of parking, the project has been redesigned with 682 spaces for cars (including 6 for carshare) and 729 spaces for bikes.
The project would also yield 50,000 square feet of ground floor retail/commercial and 70,000 square feet of open space, at least two-thirds of which would be publicly accessible and includes the "Market Mews" off Brannan:
∙ 801 Brannan And One Henry Adams: 819 Units As Proposed [SocketSite]
∙ Preliminary Designs For 801 Brannan On The Boards [SocketSite]
∙ Plans For 800 New Showplace Square Units Moving Forward [SocketSite]
∙ Plans For 800 New Showplace Square Units Moving Forward [SocketSite]
Woodside Home Sells For $117.5M? Second Most Expensive US Sale?
While never publicly listed for sale, according to public records and SFLuxe, financier Tully Friedman's nine-acre Woodside estate at 360 Mountain Home Road sold for $117,500,000 this past November, a sale which would make it "the most expensive private residence in California, and the second-highest price paid for a home in the United States."
In 2008, the adjacent 3.4 acre parcel at 330 Mountain Home Road (the brown patch to the right in the aerial above which has since been developed) sold for $5,500,000, suggesting a rather hefty premium for Friedman's estate, assuming the $117.5M sale price is correct.
The purported premium paying buyer has yet to be disclosed. Tipsters?
∙ Woodside Home Sells for $117,500,000 [sfluxe.com]
January 23, 2013
The Vision For San Francisco's Fourth And King Street Railyard
At the heart of the Mayor's proposal to tear down the end of I-280 in San Francisco is the redevelopment of the Caltrain railyard between SoMa and Mission Bay, the plan for which plugged-in people have long known was in the works.
The 19.1-acre site between 4th and 7th Streets and bounded by King and Townsend currently serves as the terminus for Caltrain in San Francisco with a station that opened in 1975. Forming a ½-mile barrier between the South of Market and the Mission Bay neighborhoods, the railyard site could be redeveloped by moving transit activities underground or off site.
Under a couple of redevelopment concepts and scenarios, the land on which the railyard sits could yield over 1,500 new residential units; over 300,000 square feet for retail; and nearly a million square feet of office space with buildings rising up to 450 feet on the site, with or without I-280 north of 16th Street in place:
Proposed building heights under either the "Highway" or "Boulevard" scenario are varied across the site with taller buildings at the eastern end, decreasing moving west.
∙ The Beginnings Of The End Of I-280 Into San Francisco? [SocketSite]
∙ 4th And King Street Railyards Redevelopment Summary Memo [sf-planning.org]
∙ Fourth and King Railyard: Now You See It, Perhaps One Day You Won’t [SocketSite]
Conflicting Plans For The Corner Of Brannan And Fifth
The draft Western SoMa Community Plan which was approved by the Planning Commission this past December and will be before the Board of Supervisors in early 2013 would rezone the corner of Brannan and Fifth Streets to a newly-created Service, Arts and Light Industrial zoning district and change the maximum height for the corner from 50 to 55 feet.
At the same time, the corner also falls within the ongoing Central Corridor Plan study area, the draft plan for which is in the works and an early version of which suggested height limits of 85 to 130 feet would actually be more appropriate for the site:
In recognition of the desire to accommodate more growth in the area, the draft Central Corridor Plan concepts recommend changing the height limit of the subject property to 85 feet. Additionally, the draft concepts include a Higher Height Alternative, which would allow additional height, up to a maximum of 130 feet, on a portion of the subject property. In this alternative scenario, any portion of the building exceeding 85 feet in height would be subject to additional setback requirements and bulk restrictions. At minimum, 15-foot stepbacks will be required above a height of 85 feet along all property lines.
All that being said, the owners of the land are actually proposing to demolish the existing single-story buildings and surface parking lot on the corner and construct a 160-foot-tall and 11-story office building with 20,000 square feet of street-fronting retail space and 547,000 square feet of office space in their place, a proposal which would require the Planning Commission and Board of Supervisors to approve yet another set of zoning controls for the site in order for the project to proceed.
∙ A Short-Sighted Plan For Western SoMa? [SocketSite]
∙ Planning's Vision And Development Plan For Western SoMa [SocketSite]
A Bold Plan To Tear Down I-280 North Of 16th Street In San Francisco
With a conceptual plan to take down I-280 north of 16th Street in San Francisco, eliminating the ramps at Sixth and Brannan and at Fourth and King and building a street-level boulevard in its place, the Mayor's office is testing the waters for an idea that a number of readers have been floating for years.
The plan to end the end of I-280 could help turn "over 30 acres of railyards and freeway shadow into $228 million worth of land for mixed use neighborhoods with housing, offices, entertainment, and hotels," millions which could help pay for high-speed rails Downtown Extension to the Transbay Terminal, perhaps speeding high-speed rail's arrival into San Francisco.
As we first reported in 2008, "While the Planning Department’s recommendations for building heights and development surrounding the new Transbay Terminal is currently the center of attention, don’t forget that the potential for San Francisco's Fourth and King Street railyard is about to be studied as well."
∙ Bold Proposal to Turn Freeway and Rail Yards into Neighborhoods [greencaltrain.com]
∙ Fourth and King Railyard: Now You See It, Perhaps One Day You Won’t [SocketSite]
Three Thousand Square Feet And Zero Dollars To Heat?
The Twin Peaks home at 10 Portola Drive now boasts three bedrooms, three and one-half baths and almost three thousand square feet of living space. And thanks to a 3kW rooftop solar system, the listing for 10 Portola boasts a PG&E bill of zero dollars for the home in 2010 and $79 in 2011.
Purchased as a 1,170 square foot home for $760,000 in 2002, the property was rebuilt and expanded to 2,827 square feet in 2005 and first returned to the market in 2008 listed for $2,395,000. Reduced and relisted six times since, the Portola Drive has just been listed with an official "one day" on the market for $1,825,000.
No word on the PG&E total for 2012 or how utilization of the home might have changed over the past couple of years.
∙ Listing: 10 Portola Drive (3/3.5) 2,827 sqft - $1,825,000 [10portola.com]